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Capitol Health to acquire digital radiology clinic for A$3M

Capitol Health Ltd. agreed to acquire I-Rad Radiology, a digital radiology clinic, for A$3 million up front.

Additionally, the company may pay up to A$500,000 under earnout over two years based on revenue growth.

The clinic, located in Victoria, Australia, is expected to contribute A$3.7 million in annual revenue.

Capitol Health expects to complete the transaction in January 2018, subject to formal documentation and customary conditions.

The company also said it has been nominated as the preferred bidder for Radiology Tasmania, an independent practice with multiple locations.